Bupa Arabia shareholders to vote on capital hike to SAR 1.5 bln via bonus shares on Dec. 22

15/11/2022 Argaam

Bupa Arabia shareholders to vote on capital hike to SAR 1.5 bln via bonus shares on Dec. 22

Logo of Bupa Arabia for Cooperative Insurance Co.

Shareholders of Bupa Arabia for Cooperative Insurance Co. will vote on increasing capital to SAR 1.5 billion from SAR 1.2 billion through a 25% bonus share distribution during an extraordinary general assembly meeting (EGM) scheduled for Dec. 22.

 

Bupa Arabia will distribute one bonus share for every four shares held, the insurer said in a statement to Tadawul today, Nov. 15.

 

Bonus Issue Details

Current Capital

SAR 1.2 bln

Number of Shares

120 mln

Percentage Increase

25% (One share for every four shares held)

New Capital

SAR 1.5 bln

Number of Shares

150 mln

Reason

To support and strengthen Bupa Arabia’s capital base to enable it to achieve business growth and expand activities over the coming years

Method of Increase

Through capitalizing SAR 300 mln from retained earnings

Record Date

Shareholders by the close of trading on the EGM date, who are registered with the Securities Depository Center (Edaa) by the close of the second trading day following the record date

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